@impunity, ndugu mcreggae believes there is no such thing as the middle class. He believes it is either you are in the upper class and insecure or in the lower class and hyping their status.
On the subject matter, I don't think this is a bad idea. 2.5% of money that I will eventually get back is OK. Plus it will lower my taxable pay.
It is govt's duty to cater for citizen's welfare. It cannot trust citizens to adhere to the discipline of saving and thus it may be forced to take such measures to protect them. The issue of a mismanaged fund is one we can deal with by having greater scrutiny on the fund.